ALEXANDRIA, Va. -- NCUA Chairman Rodney Hood has released a six-month progress report on his efforts since he took office.
In a statement, Hood said, “We are laying a strong foundation for the future of the credit union system. I also believe it is important that credit union stakeholders can track NCUA’s progress.”
According to the agency, the progress report summarizes its recent initiatives that continue the agency’s regulatory reform agenda, as well as collaboration efforts and stakeholder engagement.
“Since I was sworn in six months ago, regulatory reform has been among my top priorities,” Hood said. “We all agree that clear rules create confidence, fairness, and accountability. We need well-crafted regulations to ensure the safety and soundness of the credit union system. That’s why I want to see a regulatory system that is effective, but not excessive. We are making progress towards that goal.”
Among the topics covered in the progress report are:
- Effective, Not Excessive Regulation
- Second Chance Initiative
- Guidance Letters
- Cybersecurity
- Collaboration
- Stakeholder Engagement